THE SACRAMENTO BEE: California Student Aid Commission halts payments to Heald College students

Career College Central Summary:

  • The California Student Aid Commission has halted funding for Heald College after the for-profit chain failed to provide required documents demonstrating that it is financially stable.
  • The decision affects 4,497 students at Heald’s 10 campuses in Northern California and the Central Valley who receive Cal Grant scholarship awards, according to commission spokeswoman Patti Colston. About $1 million in payments submitted last week by Heald were suspended, and as much as $14 million in Cal Grant awards reserved through the end of June could ultimately be affected.
  • Colston said the student aid commission requested Heald’s audited financial statements on Jan. 22 and was told on Feb. 5 that the school could not provide them. Colleges that receive financial aid from California must submit an audit every four years demonstrating their financial and administrative stability.
  • The commission has put Heald on “at-risk reimbursement status,” Colston said, and will decide how to proceed with the college during a public hearing scheduled for next Friday.

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